NAICOM, NLC to collaborate on group life insurance

Commissioner for insurance, Fola Daniel (2^nd right); President, Nigeria Labour Congress, Comrade Abdulwahed Omar (3^rd right) with top management of NAICOM and NLC at the visit in Abuja.

Chuks Udo Okonta

The National Insurance Commission (NAICOM) and the Nigeria Labour Congress (NLC), as part of efforts to deepen insurance penetration and provide adequate protection for workers, are to collaborate on the implementation of compulsory group life insurance, Inspen can report.

A statement by Assistant Director/Head, Corporate Affairs NAICOM, ‘Salami ‘Rasaaq, said this was disclosed today Tuesday, by both parties when the Commissioner for Insurance and Chief Executive Officer, NAICOM, Fola Daniel led members of his top management on a working visit to the President, Nigeria Labour Congress Comrade Abdulwahed Omar at the Labour House, Abuja.

Daniel said one of the Cardinal functions of the commission is the protection of existing and prospective insurance policy holders in the Country.

He further to enumerate the benefits inherent in the consumption of compulsory Group Life Insurance under the Pension Reform Act of 2004 and urged the NLC to ensure their members, especially at the State and Local Government levels are adequately insured by their employers.

The Insurance Commissioner seized the opportunity to commend the NLC President Omar and his team for their role towards the successful resolution of the protracted ASUU strike in 2013. 

President of NLC Omar said the Congress will be more than willing to work in collaboration with NAICOM in sensitising Nigeria workers and the general public on the benefit of insurance products.

He suggested the setting up of a joint working committee for strategic planning and implementation to achieve desired success. Membership of the Committee will include NAICOM, NLC and PENCOM to ensure greater efficiency and effectiveness. The Committee is expected to be inaugurated very soon.

In attendance at the meeting are the Deputy President, NLC Comrade Kiri Mohammed (President, Civil Service Commission union) Comrade Igwe Achize (President NUPENG) Comrade Issa Aremu (Deputy President NLC) and a host of other top Council members of NLC.